- 12 May 2022
- Precious Metals
- Comments: 0
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Are you on the hunt for the right silver coins to add to a Precious Metals IRA or to purchase as a personal investment? With the vast number of silver coins from the numerous mints around the world, it can be challenging to decide which ones to add to your account.
Today, we're going to take a look at the Silver Standing Lion Guinea from St. Helena. Read on to learn more about the purity level, design, and other key details about this coin.
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St. Helena Silver Standing Lion Guinea at a Glance
About the St. Helena Silver Standing Lion Guinea
This coin is official currency in Saint Helena, an island in the South Atlantic Ocean. This volcanic island is under the possession of Britain. It is located about 2,500 miles to the east of Rio de Janeiro.
The small island has a population of under 5,000. Named after Saint Helena of Constantinople, this island is still very remote. In fact, until discovery by the Portuguese in 1502, it was uninhabited.
If you've heard of the island, but can't quite place where you've heard the name, it may be because Saint Helena is the island where Napoleon was exiled to in 1815 following his defeat.
St. Helena Silver Standing Lion Guinea Design
Interested to learn more about the design of the Silver Standing Lion Guinea of St. Helena? Let's take a look at the design of the obverse and reverse of the coin.
As part of the British Empire, the obverse design of Saint Helena's Silver Standing Lion Guinea features a profile image of Queen Elizabeth II facing the right. This sculpture was designed by Raphael Maklouv and can be found on other coins, both for Saint Helena and for other parts of the British Empire. In the portrait, the Queen is wearing the Royal Diadem crown.
The design on the reverse of the coin is of a lion, seen as defining the Royal Crown and British Empire. The lion is standing on a rope and globe. The rope represents the age of sailing, while the globe represents the expansiveness of the British Empire and their merchant ships. Beneath the rope and globe is a shield bearing the Cross of St. George. This detail was added to the coin to reference the last Guinea coin to circulate in Britain in the 1700s.
St. Helena Silver Standing Lion Guinea Value
While the face value of the Silver Standing Lion Guinea is 1.25 St. Helena pounds, the coin's actual value is much higher. As a 99.9% pure silver coin, one should expect this coin to closely correlate with the spot price of silver. Additionally, as it is 1 ¼-ounces, its value should be a bit higher than the spot price, which is based off of 1 ounce of silver.
The silver spot price can fluctuate on a daily basis. For this reason, the value of the St. Helena Silver Standing Lion Guinea will also vary. A precious metals investment company can share the current value of the coin with you if you're looking to buy or sell it.
Adding St. Helena Silver Standing Lion Guineas to a Precious Metals IRA
Have you heard of a Silver IRA? Also known as a Precious Metals IRA, a Silver IRA allows investors to save for retirement by holding gold, silver, and other metals in an IRA. Traditional IRAs only allow you to hold stocks and bonds, but with Self-Directed IRAs, like Silver IRAs, you have more flexibility about how you can invest your money.
According to the IRS, silver bullion coins or bars can only be held in an IRA if they have a purity level of at least 99.5%. This St. Helena Silver Standing Lion Guinea's purity level is 99.9%. 99.9% is greater than 99.5%, so you can add Silver Standing Lion Guineas to your IRA.
The overall process for setting up a Silver IRA isn't too complicated. Just do some research and find an IRA custodian company and precious metals investment company that are knowledgeable, experienced, and highly rated by past customers. They'll walk you through everything you need to do to open a new account or rollover an existing retirement account into a Precious Metals IRA.
Are St. Helena Silver Standing Lion Guineas a Good Investment?
Silver is a precious metal that holds a lot of potential. Not only is it used for jewelry and décor items, but it is becoming more popular for technological advancements. Many see the possibilities that this may mean for the metal's value. Of course, if you're the one making the investment, the final decision is in your hands. The St. Helena Silver Standing Lion Guinea isn't the only silver coin out there. Do you think it is the right one for your portfolio?
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